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0 sats \ 0 replies \ @028559d218 15 Feb \ on: Tether on lightning lightning
Can't stop it. If people want lightning dollars... and it otherwise doesn't effect the operation of the network then so be it.
Dollars lose value every year, by design. Bitcoin doesn't and that is the difference.
21 sats \ 0 replies \ @028559d218 15 Feb \ parent \ on: Melei’s shitcoin and rug pull Politics_And_Law
It's not just network effects, it's decentalization and proof of work.
Are any of the memecoins, in fact 99.9% of 'crypto' coins, proof of work?
No.
Do they have any energy requirements for operating or 'creating new coins'? No.
Why people can't understand this or contemplate it... is beyond me.
It's the thing imo that sets bitcoin apart from well... everything.
And the 'other' PoW coins are down 99% in hashrate and value from Bitcoin.
Everything else goes to zero.
Now I'm not that smart and I'm obviously a noob, but even I can see that.
Why can't everyone else?
A memecoin was willed into existence, by the billions, with the click of a mouse.
Why should I buy something that literally cost no energy or natural resources to create it is a stupid scam.
Dude I 'did the thing'. I 'walked the walk'.
I traveled to another continent, on my own dime, went to Lugano and spent Bitcoin in the real world.
#838975
Over Lightning.
From my own node.
And you know what, it was awesome. It worked just like it was supposed to, instant and cheap.
But you know what? I can barely find anywhere places to spend Bitcoin maybe the occasional VPN but many places on BTCmap no longer take it, or they take it so seldom the employees don't know how to process it.
The community can't wait to post their thoughts on Twitter... but somehow they can't find the time or place to actually use their Bitcoin for goods and services.
Unless he lives on a farm, rides horses, and has a ****ton of guns he would not make it, and 99% of the population wouldn't either.
And even then, survival isn't 'guaranteed' in an end-of-the-world no-government scenario some people want to somehow fantasize about.
The government spends too much, wastes too much, and can 'print as much as they like'.
That's why "smart people" and "investors" (quotation emphasis added) don't save in fiat it is a scam.
They save in assets - bonds, gold, stocks, real estate... and now Bitcoin. But even Bitcoin itself is a product of energy which can't be said for 99.9% of crypto.
'freedom minded Bitcoiners' - where are those?
The mempool literally cleared last week because... no-one was using Bitcoin for actual transactions across 8 billion people. They couldn't fill a single block among 8 billion people because... the bitcoin is held on exchanges or R/Bitcoin people are simping for it to 'go up'
Bitcoiners of late are all for small government... until it effects Bitcoin then they want the government to go "all in"
The ETF launch has been positive for the price... Negative in many ways for education.
Right now R/Bitcoin is all NGU memes, hodl memes, and low effort posts about 'how much they just bought' or 'should I buy' or 'it's going up' or 'it's hitting a million blah blah'
It's really disgusting. There was always going to be some of this, for obvious reasons. But it puts a strain on Bitcoin's utility when it's meme-speculation please-daddy-government-buy exchange stupidity.
117 sats \ 0 replies \ @028559d218 9 Feb \ parent \ on: Dashjr: 6 confirmations not enough anymore bitcoin
I have a home miner, an Apollo II.
Is it profitable? Eh at 100k I probably just break even maybe less.
But I've learned a lot using it, and I'm glad I bought it.
Having said that, we have as a community focused so much on 'self custody' (that still not enough people do) only to seriously forgo the conversation about mining and 'transaction selecting'.
There are still very few examples of 'censorship' in the wild today (maybe a dozen a year, a few dozen at max?) but if Bitcoin ever becomes a global geo-political asset for countries this will start to be a BIG issue.
what do you mean they 'aren't Bitcoiners' and you disagreed with this statement?
They aren't.
Or they are large, industrial size mining pools who could care less about censorship they just want the $$$ even getting paid out in Dollars/fiat directly.
And even if they wanted to 'fight censorship' how can they if they have large industrial facilities, publicly listed companies, located onsite in Texas?
21 sats \ 2 replies \ @028559d218 9 Feb \ parent \ on: Dashjr: 6 confirmations not enough anymore bitcoin
You have to Solo Mine... or mine with Ocean or at least a 'non-chinese' small group.
And the hashrate from small 'home' miners is so small... we would need hundreds of thousands of them to make any noticeable difference.